Robinhood shuts customers out of buying shares of MoviePass’ parent company after the stock crashed more than 99.99% (HMNY)

Robinhood is suspending new purchases of Helios & Matheson, the parent company of MoviePass, after the stock’s drastic 99.99% crash.

“In order to protect our customers from the risks associated with some low-priced stocks, we remove the buy option for stocks like HMNY that consistently trade under $0.10,” the company said in an email to customers.